Climate change legislation on the way.

• Position: Global Warming - Brief article

Prospects for climate-change legislation are gaining momentum in Washington, D.C., as four new bills to curb global warming have been announced, but "what lies ahead is the hard work of designing the carbon market in a way that is both environmentally and economically viable," asserts Tom Profeta, director of the Institute for Environmental Policy Solutions at Duke University, Durham, N.C.

In addition to cost analyses for the various bills being proposed, decisionmakers are considering how to encourage private sector investment in new energy technologies, design a carbon-reduction program that...